Working alongside SD Worx on the acquisition of the Payroll & HR Group

Corporate Law – M&A – Private Equity

Press releases — 17 March 2026

The Belgian payroll and human resources services provider SD Worx is continuing its expansion in France with the acquisition of the Paie & RH group, a company based in south-west France specialising in payroll management and HR solutions. This move follows the acquisition of Socialea last July and brings SD Worx’s pro forma turnover in France to €44 million.

Founded in 2009 by Nicolas Pironneau and Florent de Stampa, the Paie & RH Group offers software solutions and consultancy services to HR managers, payroll outsourcing services and a training academy. The group, which has 130 employees and generated €9 million in revenue in 2024 from 1,100 clients, has offices in Anglet, Bordeaux, Hossegor, Mont-de-Marsan and Pau. It has recently launched operations in Spain, and Paie & RH Solutions is a minority shareholder in the start-up Yeap, a payroll software provider to which the Paie & RH Group has migrated its entire client base.

This acquisition strengthens SD Worx’s position in the segment of companies with 100 to 1,000 employees and consolidates its regional network in south-western France. It forms part of the group’s ambition to triple its turnover in France by 2030, starting from a base of €35 million in 2024 (excluding acquisitions). In total, SD Worx employs 350 people in France, based in Paris, Bayonne and Nantes.

Operating in 27 countries, the Belgian group has nearly 10,000 employees and generated nearly €1.3 billion in revenue worldwide in 2025. It is backed by minority stakes from the CVC and M80 Partners funds, through its holding company WorxInvest.

A team led by Alexis Marchand, a partner at Cornet Vincent Ségurel, advised SD Worx on the legal structuring of this transaction.

Stakeholders

Target company: Paie & RH Solutions

Purchaser: SD Worx

Transferor: NF Développement (Nicolas Pironneau et Florent de Stampa)

Advisory

Solicitor For The Buyer and Legal Due Diligence: Cornet Vincent Ségurel (Alexis Marchand, Alexandra Thil, Ornella Costa-Henriques)

Tax Due Diligence: BDO Avocats (Sacha Boksenbaum, Bo Finkel)

Financial Due Diligence: BDO (Nils Michiels, Pascal Ripaux, Nicolas Martinon)

Evaluation Consultancy: BDO (Olivier Bertron, Maxence Vœgelé)

Selling solicitor: ABL associés(Catherine Batut, Clotilde Baraille)